House-price trickle is just too fickle

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Many regions are still waiting to enjoy the positive effects of a ripple from London’s boom

Sellers around the country are still waiting for money to flow out of London
as it becomes apparent that the upward trend in national house prices is
masking considerable regional variations.

House prices are up 6.5 per cent over the past year according to the
Nationwide Building Society, but forecasters point out that the figure for
the national average is significantly boosted by London, where values are
already 11 per cent above the 2007 peak.

Indeed, a 10 per cent jump in housing demand in London in the last six months
has added to speculation that the market in the